What does it mean to have a sole proprietorship?

A sole proprietorship is simply a way of doing business. There’s no legal protection. It just means that I’m going to go out and start a business. It might be in my name. I might use a fake name or fictitious name. Basically, it’s just, I am running a business as myself and that’s what it is. A sole proprietorship. There is no legal protection like you would get if you set up a company, but you don’t have those costs either. You have no liability protection, but you have no extra paperwork.